Why Homebuyer Tax Break is a Bad Deal

byRobert Nagleon2/5/2009

I frankly am appalled to hear that the Senate voted a $15,000 tax break for homebuyers (according to this article by David Herszenhorn). As usual the commenters have the most insight. See this amazing comment and this one. It’s awful legislation (it cuts funding for the Arts, climate change research, etc) and it panders to a specialized group of people who don’t particularly need the help. But it’s hardly surprising that this is the brainchild of politicians used to listening to corporate lobbyists than ordinary people.